Korn,
ItemID Changes will not affect the base value of the shield. Kane has more plans up his sleeves for the enhanced parry system, so i wouldnt worry too much about the shield value at this time. Just keep working on your things.
I did get clarification from him on a couple of things. Parry is not calculated with Bushido anymore, so if you use Bushido as your defense of choice, Parry will not increase your defenses.
And Bushido is great for a few reasons, Evasion and Confidence. Evasion allows you to completely evade attacks for 2 seconds after using the skill with a 15 second cooldown (Great when you're expecting a big hit, or just dropped to low health) Confidence heals you on a successful defense. and Perfection allows you to get an increasing damage and luck bonus for successfully striking the opponent repeatedly. (Invoke perfection by honorable combat)
Momentum strike is a bit underwhelming compared to Whirlwind, but it is still nice. and Lightning Strike is low mana and has a critical strike chance to do 300% damage.